The small cardamom market continued to witness a firmer trend following good demand on Monday.

At the forenoon auction conducted by Cardamom Planters' Association, Santhanpara in Bodinayakannur, the auction average stood at ₹1,075.18 a kg as against ₹1,019.16 the previous Monday. A total of 11.5 tonnes arrived and almost the entire quantity traded. The maximum price was at ₹1,455 a kg.

Last week witnessed an upsurge in prices with the average price staying above ₹1,100 a kg at eight out of ten auctions held.

However, the arrivals are expected to move up from now as the second round of picking is in full swing. Add to this, the growing regions in Idukki district , is receiving good rains from Friday and these factors have changed the market sentiment now to slightly bearish, P C Punnoose, General Manager, CPMC told Business Line .

Exporters are expected to be active when the arrivals picked up. They have bought an estimated 40 tonnes of cardamom last week, trade sources in Bodinayakannur said.

Last week arrivals decreased to 388 tonnes from 475 tonnes the week before.

Individual auction average during the week soared to 1,103.91 a kg from to 1,023.76 a kg the previous week and it was vacillating between ₹1,020 and ₹1,150 a kg.

Total arrivals during the current season up to August 19, 2017 were at 1,298 tonnes and the sales were at 1,252 tonnes.

Individual auction average for the season as on August 19 was at ₹1,064.76 a kg.

According to Ranganathan a Bodi-based dealer the markets are likely to stay steady/firm this week.

Prices today at Bodinayakannur, he said, were (in ₹/kg) : 8mm green bold 1,525; 7 -8mm 1,225; 6-7mm 975. Good bulk was being traded at 1,125-1,150 a kg.

Related Topics
comment COMMENT NOW